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Interquest named
to Venture Reporter's "Top 100" list of venture-funded
companies of 2002.
Interquest Communications today
announced it has been named to the "Top 100" list
of companies receiving Series A or Seed round financing
between June 1, 2001 and May 31, 2002, by Venture Reporter
magazine.
More than 10,000 companies tried
to raise first round capital over the past year and a half,
and only 580 of them succeeded. Of those 580, VentureReporter.net
selected the 100 best and brightest. Each of these companies
out-muscled thousands of other companies that tried to raise
capital and failed; they also beat out 80 percent of the
other companies that were able to raise capital in the past
year!
Interquest, known as a national leader for high quality
broadband service to the multifamily apartment market, is
lead by co-founder Glenn Meyer, CEO. The company has grown
deliberately over the past year adding 34 employees and
developing a service base of over 30,000 apartment residences
in seven western states. Its clients are among the largest,
most high profile and demanding apartment owners and managers
in the US, an environment where Interquest feels right at
home.
"We're pleased to have been selected to this prestigious
list of companies. It reaffirms that our business plan,
market focus, and business practices all appear sound when
evaluated by impartial outside analysts. We've remained
very focused on building the company on sound business fundamentals
while at the same time providing our clients and customers
with rock-solid broadband connections and state-of-the-art,
world-class service," stated Meyer. "It's been a challenging
environment due to the industry's high profile failures
and skepticism within the multifamily markets nationwide
for anything Internet related. However, over the course
of the last six months the market has embraced our approach
and rewarded us with their confidence and more importantly
more service contracts. We are growing at a higher rate
than originally projected," he added.
"InterQuest has confirmed our original expectations that
the marketplace demands and will reward a well-run, service
oriented ISP, and that this management team is up to the
challenge of leading in this market space," said Cliff Higgerson,
Partner at ComVentures. "We are excited at the prospects
of this market space and at the tremendous progress that
has been made in such a short period of time."
About Interquest Communications, Inc.
Interquest is a national leader in providing broadband Internet
services to the real estate industry including both multi-family
and commercial office buildings. The company is headquartered
in Seattle, Washington and maintains a regional office in
Walnut Creek, California.
For more information, please visit
www.interquest.net.
About ComVentures
ComVentures, a venture capital firm with more than $1 billion
under management, specializes in early-stage investments
in the communications market. ComVentures focuses its investment
expertise on pioneering, progressive companies that capitalize
on the constant drive to build next-generation network infrastructure,
software, and services. ComVentures has investment professionals
with deep technical, financial, and "hands-on" entrepreneurial
experience. ComVentures consistently uncovers groundbreaking
communications technologies, helps lead and grow its portfolio
companies, and assists these companies in deploying new
technologies in an ever-changing marketplace. For more detailed
information, visit www.comventures.com
Interquest Corporate Contact:
Glenn Meyer, CEO
Interquest Communications
(206) 574-5480
gmeyer@interquest.net
Doug Woods
Interquest Communications
(206) 574-5474
dwoods@interquest.net
ComVentures Contact:
Tami Bhaumik
tbhaumik@comventures.com
(650) 325-9600
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